City and local sales taxes spike
Accounting Today
AUGUST 14, 2024
A new study reveals increases in both local and new tax rates across the country, highlighting an urgent need for revenue at the municipal level.
Wed.Aug 14, 2024
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Boosting Your Bottom Line with Financial Forecasting
Accounting Department
AUGUST 14, 2024
In today's competitive landscape, small and medium-sized businesses (SMBs) need every advantage they can get to thrive and grow. One powerful tool that can significantly impact a company's bottom line is forecasting.
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MBA edges out CPA for CFO candidates
Accounting Today
AUGUST 14, 2024
The CPA certification is the third-most valued credential for CFO roles, according to a report by the Pennsylvania Institute of CPAs.
New insights into how consumers are making payments
Xero
AUGUST 14, 2024
The way we pay for products and services is changing faster than ever, and as a small business owner it’s important to keep up with these shifts to meet customer expectations. As payment trends evolve, you need to have all the facts so that you can get paid as fast as possible. So we asked consumers, ‘How do you want to pay?’ and delved into what options small businesses were offering today as well as the administrative challenges of paying suppliers.
Forecasting Failures Are Costly: Here's How To Fix Them
Speaker: Dave Sackett
Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.
Post-Debby tax relief expands to all Vermont
Accounting Today
AUGUST 14, 2024
Everyone in the state who was affected by the storm now has until Feb. 3 to file and pay.
7 Best Billing Software for Accountants
Ace Cloud Hosting
AUGUST 14, 2024
Billing software has become a necessity and around 58% of accountants use accounting software to meet their client’s needs. The accounting profession is rapidly evolving, and staying in a competitive.
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Business combination definition
Accounting Tools
AUGUST 14, 2024
What is a Business Combination? A business combination is a transaction in which the acquirer obtains control of another business (the acquiree ). Business combinations are a common way for companies to grow in size, rather than growing through organic (internal) activities. Combinations can be used to rapidly acquire market share, fill out product lines , and gain access to new markets.
Change management: 5 pitfalls that prevent change and how to overcome them
Accounting Today
AUGUST 14, 2024
First understand how things get done at your firm. Who needs to give a green light for an initiative to move ahead?
Fair value accounting
Accounting Tools
AUGUST 14, 2024
How to Account for Fair Value Fair value accounting uses current market values as the basis for recognizing certain assets and liabilities. Fair value is the estimated price at which an asset can be sold or a liability settled in an orderly transaction to a third party under current market conditions. This definition includes the concepts noted below: Current market conditions.
IPSASB clarifies requirements for first-time adoption of accrual basis IPSAS
Accounting Today
AUGUST 14, 2024
The International Public Sector Accounting Standards Board has proposed an update to its rules for first-time adoption of accrual basis International Public Sector Accounting Standards.
Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments
Speaker: Erroll Amacker
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
The purpose of a bank reconciliation
Accounting Tools
AUGUST 14, 2024
What is a Bank Reconciliation? A bank reconciliation is used to compare your records to those of your bank, to see if there are any differences between these two sets of records for your cash transactions. The ending balance of your version of the cash records is known as the book balance , while the bank's version is called the bank balance. Why Conduct a Bank Reconciliation?
Xero to focus on accounting, payroll, payments in US, UK and Australia
Accounting Today
AUGUST 14, 2024
Sukhinder Singh Cassidy, CEO of Xero, outlined her "Win On Purpose" strategy, which involves a focus on accounting, payments and payroll in the US, UK and Australian markets.
Where do accruals appear on the balance sheet?
Accounting Tools
AUGUST 14, 2024
What is an Accrual? An accrual allows a business to record expenses and revenues for which it expects to expend cash or receive cash, respectively, in a future period. It is an essential element of the accrual basis of accounting. It is nearly impossible to generate financial statements without using accruals, unless the cash basis of accounting is used.
Quality advisory doubles the acquisition probability for startups
Accounting Today
AUGUST 14, 2024
Accountants play a crucial role in guiding our clients through some of their most stressful moments — the challenges of growth and the complexities of the acquisition process.
Book of Secrets on the Month-End Close
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Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
AICPA Says Supreme Court Decisions to Have Major Tax Impacts
Insightful Accountant
AUGUST 14, 2024
Recent Supreme Court decisions have sent shockwaves through the accounting profession, particularly in the realm of tax law. These changes introduce a level of uncertainty that may make many tax professionals uncomfortable.
Advent acquires majority stake in Syspro
Accounting Today
AUGUST 14, 2024
Advent International, a global private equity investment firm, has acquired a majority stake in Syspro, a provider of ERP systems that employs 400 people globally.
The Future of Bookkeeping: Trends and Technologies Small Businesses Should Embrace
Less Accounting
AUGUST 14, 2024
In the ever-evolving landscape of business operations, bookkeeping stands as a fundamental pillar for small businesses. As technology continues to advance and market dynamics shift, the role of bookkeeping is undergoing a transformation. In this article, we’ll explore the emerging trends and technologies shaping the future of bookkeeping and why small businesses should embrace them.
How to Set up AWS Billing Alerts to Monitor Your Cloud Cost
Economize
AUGUST 14, 2024
Importance of Monitoring AWS Costs Cost monitoring is fundamental for ensuring that your operations remain within budget while avoiding unexpected costs. This involves routine checks and analyses to align cloud spending with strategic business objectives, which aids in better financial and operational efficiency.
How To Break Digital Transformation Barriers And Accelerate AI Adoption
Speaker: Anna Tiomina, MBA
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
Talent Crunch!? This Guy Has 500 Accounting Candidates Ready for Hire
Jetpack Workflow
AUGUST 14, 2024
Podcast Summary In this episode of the Growing Your Firm podcast, host David Cristello, founder and CEO of Jetpack Workflow , welcomes Laurence Whittam , the Managing Director at Impact Global Solutions. Laurence specializes in helping CPA firms build successful outsourced teams. The discussion delves into the evolving landscape of the industry, where the challenge is no longer about finding talent but selecting the right fit for each firm.
Xero Inventory Plus - an Introduction
Insightful Accountant
AUGUST 14, 2024
As part of our continuing coverage of various General Ledgers that might substitute for QuickBooks Pro-plus and Premier-plus Desktop, we are exploring a new functionality being offered by Xero, their 'Inventory Plus' option.
The 5 Biggest Factors Impacting Your Firm’s Valuation (In Order)
Future Firm
AUGUST 14, 2024
Do you know what actually impacts your firm’s value? Discover the 5 key factors buyers consider when determining your firm's worth. The post The 5 Biggest Factors Impacting Your Firm’s Valuation (In Order) appeared first on Future Firm.
Nearly half of Canadian Small Businesses face challenges steming from lack of financial literacy
Insightful Accountant
AUGUST 14, 2024
Xero study reveals 44% of owners figure out financial matters on their own, with nearly the same proportion facing fiscal challenges.
Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100
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Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
Amazon SageMaker: Basics, Pricing, and Cost Optimization Tips
finout
AUGUST 14, 2024
Amazon SageMaker is a comprehensive machine-learning service designed to simplify the process of building, training, and deploying machine-learning models. It provides essential tools and capabilities that enable organizations to efficiently manage their ML workflows. As businesses increasingly adopt machine learning to gain insights and improve operations, SageMaker's integration with advanced AI features positions it as a key enabler of these transformations.
How Streamlining Tech Can Supercharge Success
Insightful Accountant
AUGUST 14, 2024
Irana Wasti of BILL discusses how the economic volatilities of the past few years have been challenging for finance teams, with inflation and uncertainty driving efficiency pressures and creating cash flow concerns for some businesses.
Modified cash basis of accounting definition
Accounting Tools
AUGUST 14, 2024
What is the Modified Cash Basis of Accounting? The modified cash basis of accounting uses elements of both the cash basis and accrual basis of accounting. In essence, the modified cash basis uses the cash basis of accounting, with accrual adjustments added to it. Under the cash basis, you recognize a transaction when there is either incoming cash or outgoing cash; thus, the receipt of cash from a customer triggers the recordation of revenue , while the payment of a supplier triggers the recordat
Xero announces breakthrough GenAI companion and enhanced mobile experience
Insightful Accountant
AUGUST 14, 2024
With GenAI-powered tools combined with advances in mobile tech, Xero is changing how small businesses do accounting.
The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience
Speaker: Melissa Hurrington
Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.
What is Retrieval Augmented Generation (RAG)?
Nanonets
AUGUST 14, 2024
In the AI space, where technological development is happening at a rapid pace, Retrieval Augmented Generation, or RAG, is a game-changer. But what is RAG, and why does it hold such importance in the present AI and natural language processing (NLP) world? Before answering that question, let's briefly talk about Large Language Models (LLMs). LLMs, like GPT-3, are AI bots that can generate coherent and relevant text.
US Small Businesses face Financial Literacy Challenges
Insightful Accountant
AUGUST 14, 2024
Xero study reveals 39% of U.S.
New features announced at Xerocon Nashville
Xero
AUGUST 14, 2024
Running a small business in the US or Canada comes with its fair share of unique challenges. That’s why Xero has been doubling down on building out our product capabilities for the unique needs of this region. Today, on stage at Xerocon Nashville, I was very excited to unveil the huge number of improvements Xero has made to make things easier for small businesses and their advisors.
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